Is it possible to upgrade or downgrade between the Gold and Platinum variants of the Kotak PVR Credit Card? I’m considering getting the Gold version to start with, but I’m wondering if I can upgrade to Platinum later if I start spending more. On the flip side, if I find that the Gold version works just fine for my needs, can I downgrade to avoid the higher fees on the Platinum card? How does the process work, and is there any flexibility with the annual fees if I decide to switch?
Yes, it’s possible to upgrade or downgrade between the Gold and Platinum variants of the Kotak PVR Credit Card, but there are some nuances to the process. Based on what I’ve seen from user experiences and discussions, here’s how it typically works:
Upgrading from Gold to Platinum:
If you start with the Gold variant and want to upgrade to Platinum, it’s usually fairly simple—you just need to contact Kotak’s customer service or visit a branch to request the upgrade. Typically, banks don’t mind upgrading cards as long as you’ve been a responsible cardholder and meet the spending or credit score requirements. The upgrade process can sometimes be done without much hassle, especially if your spending is consistently high and you’re paying your bills on time. However, the annual fee of ₹999 for Platinum might still apply, and you won’t be getting a refund for the Gold card’s fee once upgraded.
Downgrading from Platinum to Gold:
Downgrading is a little trickier. While you can downgrade from the Platinum to Gold variant, the process isn’t as straightforward as upgrading. Some users have mentioned that they had to speak to customer service or go through multiple calls before they could actually make the switch. Downgrading might be something Kotak does on a case-by-case basis, and it could depend on whether you’re still within the annual fee cycle or not. If you downgrade mid-year, Kotak might not refund the full Platinum annual fee (₹999), and you might end up paying a pro-rated amount.
In terms of the annual fees, there isn’t much flexibility unless you meet certain spending thresholds or if Kotak runs specific offers. There are no automatic waivers for Gold or Platinum, so if you don’t meet the spending requirement, you’re stuck paying the fee unless you downgrade.
A point to note is that some users reported confusion with Kotak’s agents about the upgrade/downgrade process. There were cases where incorrect information was given about fees or timelines for downgrades, so it’s important to double-check the details with Kotak directly.
Personally, I was in the same position—considering upgrading to Platinum as my spending increased. However, I ended up sticking with the Gold variant because it suited my needs and the higher fee on Platinum wasn’t justified by the additional benefits I would have gotten. If you’re someone who’s okay with the annual fee and spends enough to make the benefits of Platinum worth it, then the upgrade is fine. But if you want to avoid paying a higher fee, downgrading could be a wise option—just be prepared for a bit of back-and-forth with customer service.